2021 Annual Report

FY21 YEAR IN REVIEW As the global transition to clean energy progresses and the advent of new technologies drives demand for critical raw materials, the mining industry must invest to identify the mines of the future needed to meet that demand. IGO is playing an important role in this challenge through our enduring commitment to both greenfield and brownfields exploration and discovery. IGO considers the discovery of new clean energy metals deposits as a key driver of transformational value creation and sustainable growth for our business. Our exploration strategy mirrors our broader corporate strategy by focusing on identifying new, high value nickel, copper and lithium deposits across our highly prospective portfolio. Our strategy is highly disciplined and backed by the best geoscience to maximise the chances of success, and hence create superior value for our shareholders. Our commitment to exploration over recent years has allowed us to build an exceptional portfolio of belt-scale projects and, importantly, a world class exploration team who are truly excited about the prospectivity of our portfolio. Our team, which has been strengthened over the course of FY21, comprises passionate and highly talented geoscientists, ably supported by a dedicated and energetic field logistics team. In FY21, our portfolio includes projects in Western Australia, Northern Territory, South Australia and Greenland. Our primary focus for the year was on the Fraser Range nickel-copper and Paterson copper projects, which IGO prioritised based on the prospectivity and potential value a discovery would deliver to IGO. Over FY22, our exploration strategy will remain focused on the discovery of metals critical to clean energy. Reflecting IGO’s investment in the Lithium JV, our team will also actively seek opportunities to target lithium discovery, whilst still retaining a significant focus on high value nickel and copper deposits. Further, our team will continue to assess opportunities to secure more advanced assets that can add resources to IGO’s portfolio. Regional Exploration & Development 22 — IGO ANNUAL REPORT 2021 Exploration